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Figure based on the national average salary of $50,000 and assumes 40% overhead.
Figure based on the average salary of $50,000 and assumes 240 annual working days
Figure based on the assumption that the cost of recruiting, training and covering someone leaving is approximately equivalent to 150% of their annual salary – here taken to be $50,000.
- 1.5% – Assumed productivity gain.
- 1 – Assumed each employee has one less day off work due to sickness in a year.
- 20% – Assumed reduction in the annual turnover of staff.
- $50,000 – The national Average Wage for 2013 in the US was $53,000. $50,000 is rounded to the nearest $10,000.
- 240 – Average number of working days in a year minus 20 days holiday (including public holidays).
- 150% – The assumed cost of staff turnover as a % of annual salary. There are both direct and indirect costs. Direct costs relate to the leaving costs, replacement costs and transitions costs, and indirect costs relate to the loss of production, reduced performance levels, unnecessary overtime and low morale. 1) Schlesinger, Leonard A.; James L. Heskett (1991 – 04 – 15). “Breaking the Cycle of Failure in Services”. MIT Sloan Management Review 33 (3): 17 – 28 . Retrieved 2009 – 01 – 21 .
- 16 – Assumed rate of staff turnover. This is based on survey data indicating that the average annual rate of staff turnover in employing organizations in the UK is 16%.
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